Whittier Trust Co. maintained its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,431 shares of the financial services provider’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Brookfield Asset Management were worth $252,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BAM. Sigma Planning Corp acquired a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $2,249,000. First Manhattan Co. increased its position in shares of Brookfield Asset Management by 2.8% in the first quarter. First Manhattan Co. now owns 17,365,695 shares of the financial services provider’s stock valued at $610,925,000 after buying an additional 469,331 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Brookfield Asset Management by 26.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 82,823 shares of the financial services provider’s stock valued at $3,009,000 after buying an additional 17,313 shares during the last quarter. Hexavest Inc. increased its position in shares of Brookfield Asset Management by 4.5% in the first quarter. Hexavest Inc. now owns 667,232 shares of the financial services provider’s stock valued at $24,240,000 after buying an additional 28,680 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $853,000. 53.96% of the stock is owned by institutional investors and hedge funds.
Brookfield Asset Management Inc (BAM) traded up 0.75% on Friday, hitting $39.13. The stock had a trading volume of 765,224 shares. The company has a 50-day moving average price of $38.99 and a 200-day moving average price of $37.56. Brookfield Asset Management Inc has a 1-year low of $32.04 and a 1-year high of $40.09. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 30.36 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.28. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The business’s quarterly revenue was up 58.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. Equities analysts predict that Brookfield Asset Management Inc will post $1.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. Brookfield Asset Management’s dividend payout ratio is 43.75%.
Brookfield Asset Management declared that its Board of Directors has authorized a share buyback plan on Friday, May 19th that permits the company to buyback 82,960,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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BAM has been the subject of several research analyst reports. Royal Bank Of Canada boosted their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $45.00 target price on shares of Brookfield Asset Management in a research note on Friday, May 12th. TD Securities reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. ValuEngine downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $43.56.
About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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